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Yesterday, BlackRock released a new video aimed at educating people interested in bitcoin about this asset class.
The video is pretty good, really. I think they were inspired by Saifedean Ammous's book “The bitcoin Standard”, which looks at the history of money since the beginning of time and how it has changed and evolved throughout history.
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Launched in January, IBIT has surpassed $50 billion in assets as investors increasingly use the ETP to gain efficient exposure to the price of bitcoin. However, many investors are still relatively new to the digital asset space. For those looking to learn more about what bitcoin is… pic.twitter.com/8wh9CW0xYa
—Jay Jacobs (@JayJacobsCFA) <a target="_blank" href="https://twitter.com/JayJacobsCFA/status/1869095180411814233?ref_src=twsrc%5Etfw”>December 17, 2024
Seeing this type of educational content about bitcoin from an $11.5 trillion asset manager is something that I think will really resonate with their target audience.
While watching the video, there was one moment in particular that stood out to me. BlackRock highlighted where bitcoin is today, saying: “bitcoin is no longer considered the radical idea it was 15 years ago. “More than 500 million people around the world now use cryptocurrencies, and more than 50% own or invest in bitcoin.”
That screams to me that bitcoin is being recognized as a legitimate and established asset class in the eyes of the financial elite and eventually the mainstream.
In its early days, bitcoin was actually such a radical new idea that probably 99% of people couldn't conceptualize it. However, over time, bitcoin has proven time and again to be a legitimate asset and people are now interested in adopting this new form of money. It seems that there has been a sincere paradigm shift and that we are slowly but surely leaving the point in history where most people think that bitcoin is a scam and bad for any other generic FUD that has already been completely discredited.
That said, I'm not saying that everyone is about to become bitcoin maximalists or anything, but I do think that more and more people are accepting the fact that bitcoin is here to stay and that it's not going anywhere. – which I think eventually leads to people saying, “Then I should probably own some bitcoin.”
This is not just anyone saying that bitcoin is becoming a legitimate asset, this is the largest asset manager in the world. BlackRock is putting its reputation behind bitcoin and projecting confidence in its long-term success. And it's been an incredible move so far to embrace bitcoin, with its bitcoin spot ETF being the most successful ETF launch in history.
When they speak glowingly of a potentially profitable investment, people listen. I think wealthy, accredited investors in particular are the first to notice and take advantage of BlackRock's signals here. Over time, this will be followed by retail investors.
I believe bitcoin is ready to enter a completely new paradigm, unlike anything we have seen before.
This article is a Carry. The opinions expressed are entirely those of the author and do not necessarily reflect those of btc Inc or bitcoin Magazine.
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